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Ways of Giving

The Virginia United Methodist Foundation has many different options for donors to explore what will work best for their financial and estate planning goals. These gifts can provide income and some tax benefits for the donor. These gifts will continue to assist the Foundation in our mission of “Stewarding Potential To Build His Kingdom.”

The most common donations are outright gifts, such as cash or a check, which the church receives right away. But many times, people want to retain their money and other assets for now, ensuring they can meet their family’s future financial needs. These individuals are usually delighted to learn that there are excellent alternatives that allow them to still make a gift. One of these options could be right for you.

Planned gifts can be revocable – a charitable bequest in your will, for example – so that you can change your mind at any time. Or, they can be irrevocable – just as outright gifts are – so that you benefit from an immediate income tax deduction.

The attraction of irrevocable planned gifts is that they are deferred. You part with an asset today, but the actual giving of the asset to the church is put off for a while—often until after your lifetime (and that of a surviving beneficiary, if you wish). Until that time, you receive benefits from the gift.

For example, with a charitable remainder trust, you receive lifetime income from the asset after it’s placed in a trust, and then the church receives the remainder of the trust after you die. Or, you could deed the church a remainder interest in your home and still retain the right to live in it for life. At any rate, the key feature of planned gifts like these is that they provide the donor important benefits, as well as your church.

GIFTS YOU CAN MAKE NOW

CURRENT

Your Gift

Outright Gift of Cash

Outright Gift of Securities

Outright Gift of Personal Property

Your Goal

Make a quick and easy gift

Avoid tax on capital gains

Share your enjoyment of a collection or other personal item

How You Make the Gift

Simply write a check

Contribute long-term appreciated stock or other securities

Donate tangible personal property used for tax-exempt function

Your Benefits

Immediate income tax deduction

Removes property from estate

Immediate charitable deduction of full fair market value

Avoidance of capital gains tax

Charitable deduction based on the full fair market value

GIFTS YOU CAN DEFER

DEFERRED

Your Gift

Bequest in Will

Gift of Life Insurance

Gift of Retirement Assets

Gift of Real Estate

Gift of Retained Life Estate

Your Goal

Defer a gift until after your lifetime

Make a large gift with little cost to yourself

Avoid the twofold taxation on IRAs or other employee benefit plans

Make a gift of an asset no longer needed and generate an income tax deduction

Give your personal residence, vacation home or farm now but continue to live there

How You Make the Gift

Name the church in your will (designate a specific amount, a percentage or a share of the residue)

Contribute a life insurance policy you no longer need

Name the church as the beneficiary of the remainder of the assets after your lifetime

Donate the property to the church, or sell it to us at a bargain price

Deed ownership of your home to the church but retain occupancy

Your Benefits

Donation is exempt from federal estate tax

Control of asset for your lifetime

Current income tax deduction

Possible future deductions through gifts to pay policy premiums

Make the gift from the most highly taxed assets, leaving more for family

Avoids income and estate tax

Immediate fair market value income tax deduction

Reduction or elimination of capital gains tax

Valuable charitable income tax deduction

Lifetime use of residence

GIFTS FOR LIFE INCOME

LIFE INCOME

Your Gift

Charitable Remainder Trust

Charitable Remainder Annuity

Charitable Gift Annuity

Charitable Lead Trust

Your Goal

Create a hedge against inflation over the long term and supplement your retirement income

Secure a fixed income and supplement your retirement funds

Supplement income with steady payments that are partially tax-free

Reduce gift and estate taxes on assets you pass to children or grandchildren

How You Make the Gift

Create a trust that pays a fixed percentage of trust’s assets as revalued annually

Create a charitable trust that pays you a set income annually

Enter a charitable gift annuity contract with the church that pays a set amount for one or two lives

Create a charitable trust that pays fixed or variable income to the church for a specific term of years; principal is retained for heirs

Your Benefits

Receive a variable income for life

Immediate income tax charitable deduction

May create succession income to heirs

Immediate income tax deduction

Fixed payments for life, often at a higher rate of return

Current and future savings on income taxes

Stable payments for life

Reduces your taxable estate

Your family keeps the property, often with reduced taxes

Contact our staff who can provide additional information about the different options for Ways of Giving.